AWKWARD

3 years ago

Anti-Debt Group Goes Broke

What was that line about thinking about budgets like a middle-class family? The Cans Kick Back, a group affiliated with fiscal scolds Erskine Bowles and former Sen. Alan Simpson as well as the Fix the Debt campaign, is reportedly nearly broke. Documents left online in a Google Group revealed that the organization is operating at a loss, and that it has cash reserves of only $70,000, with commitments of $75,000 outstanding. Most of the group's money, roughly 40 percent last year, came from conservative hedge-fund billionaire Stan Druckenmiller. The Cans Kick Back defended itself in a statement, saying, "The Cans Kick Back is proud to be a voice for our generation on issues related to long-term debt, decreased investment, and reckless spending. We have no debt nor do we operate beyond our own financial means."